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Author Topic: How to avoid ICO scam  (Read 7663 times)
MasNizzer
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April 07, 2018, 08:39:51 AM
 #141

Make a thorough research..be critical and look at each coin from different perspectives.. Dont just beleieve others saying coin will rise to the moon or bec u saw a rise 50%.. It takes time for any projects to be materialize as a successfull one.. Ask important questions such as whats the relevance and demands of the product... And how the team develops the product in the long run...it takes lot of time to conclude and trust one project.. Research is the very 1st thing ...
Do check first as described earlier, because now there are some ico has deceived people. It was very difficult to find them before scamming. But you need to check out Ann's thread, team members, and even the reward manager.
Sometimes most scammers hire lower ranking managers to manage their bounty thraean.
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liangweicha
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April 07, 2018, 08:40:59 AM
 #142

Most of the time it's hard to avoid that.
Because even an open source project, they might just raise a lot of money, so it's not a good idea to invest in ico.

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April 07, 2018, 08:49:50 AM
 #143

I think the best way to avoid scam ico is doing own research before investing any kind of ICO.Should consider the project vision, team and status of development of products.
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April 07, 2018, 08:50:16 AM
 #144

In order for us to avoid ICO scam out their we should be aware on how ICO scam works. We should research and try to find out on google some news about the ICO. We should also watch some blogs on youtube regarding that ICO. The more you'll see negative feedbacks that ICO cannot be trusted. We should look for the community because it's community has a very important role on some ICO out their.

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April 07, 2018, 09:06:45 AM
 #145

I mean, is there an exact list of rules that could guarantee that someone who follows them will surely not become a victim of another ICO scam. Of course there are obvious rules like event participation, reputation of team members among ather prifessionals, approve by well-known advisors. But potential scammers also know all these criteria and know what to fake exactly.

Is there a 'blockchain way' to create an algorithm, scheme or set of conditions allowing to recognise and ban scammers? Not government laws way which also good for the market in my opinion.

Would be appreciate a link to an old thread, perhaps I just didn't find it.

UPD Best Advices:
  • learn about previous ICO projects, select viable ones and participate similar ICOs
  • invest in an ICO with a working prototype only

There are a lot of scam projects out there every day, so many projects are well prepared, and it's hard to tell if it's a fake project. Be careful of all the ICO projects you want to invest, learn about the project's realism and project dev list.
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April 08, 2018, 07:16:41 AM
 #146

As in any niche, the more you are aware of the project, the more you have a chance to avoid scams. If you can not find information about ICO, then it is better to avoid it.            
jeronimosuykens
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April 08, 2018, 07:32:06 AM
 #147

I think the best way to avoid scam ico is doing own research before investing any kind of ICO.Should consider the project vision, team and status of development of products.
To avoid scams in ICO investments, it is important that you research and explore the project carefully before investing. The time from the beginning of the project to the sale of the ICO is very long so you have more time and information to be able to evaluate the project. If you are not sure about your research then consult some more experienced professionals in the field that you want to invest.
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April 08, 2018, 07:49:19 AM
 #148

I do not think that there is any algorithm to spot fake ICOs or coins currently. You will have to looks manually and check different aspects like brusqueness of the project and people behind that project.
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April 08, 2018, 08:10:37 AM
 #149

Research is always important, it has been proven many times over in the past and I don't see any reason why it wouldn't at present.
This is the only way to avoid getting scammed. It always pays great to do research before entering into something big.
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April 08, 2018, 08:17:24 AM
 #150

when I see ICO interesting and many interested can be said ICO interesting ,,, but ICO that SCAM can see how many people follow signature or can also see unsold ICO.
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April 08, 2018, 08:19:54 AM
 #151

There isn't anyway you can avoid an ICO scam, the only way to avoid it is through not investing in them at all. Also almost all the ICOs launched last year have already failed, so I don't see how ICOs can be a good investment option.
ngacengan
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April 08, 2018, 08:23:25 AM
 #152

I mean, is there an exact list of rules that could guarantee that someone who follows them will surely not become a victim of another ICO scam. Of course there are obvious rules like event participation, reputation of team members among ather prifessionals, approve by well-known advisors. But potential scammers also know all these criteria and know what to fake exactly.

Is there a 'blockchain way' to create an algorithm, scheme or set of conditions allowing to recognise and ban scammers? Not government laws way which also good for the market in my opinion.

Would be appreciate a link to an old thread, perhaps I just didn't find it.

UPD Best Advices:
  • learn about previous ICO projects, select viable ones and participate similar ICOs
  • invest in an ICO with a working prototype only


I think you mentioned it is correct but nowadays many ICOs are trying hard to make the investors believe that they are just scamers so you better be more careful with searching for his name and their identity and name history.
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April 08, 2018, 08:23:39 AM
 #153

When I choose an ICO or bounty campaign then before taking part, I try to find as much information in social networks as possible.

Irkytsk38rus
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April 08, 2018, 08:33:04 AM
 #154

It is very difficult to do if the project is done correctly.There are a lot of videos for the selection of the project, but even this does not guarantee that you do not fall for scammers

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April 08, 2018, 08:33:57 AM
 #155

I'm afraid there is no strictly technological way to determine whether a particular ICO is a scam or not. Although there might probably be some careless or shady or dubious patterns in some ICO that would somehow suggest that they are not legit. But still the old way is still the best way to know whether an ICO is legit or a scam. Still very much needed is the careful reading of their whitepaper and their website, checking of their team, and all.

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straimrpl777
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April 08, 2018, 08:36:33 AM
 #156

It's very simple, many people write to read white paper, study the road map, the development team. But the first thing you should pay attention to is the advisers. Firstly, there are partners in good projects and not advisers, and secondly, in the projects of scammers, one and the same advisers.
Mercedes
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April 08, 2018, 08:38:00 AM
 #157

it's quite hard to avoid scam ico. you should take care yourself when invest project ,read carefully their white paper and ask anything which you didn't know.
Thyaga
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April 08, 2018, 08:39:43 AM
 #158

The first thing that matters for you to know a scam project or not is whether they have a product that has worked and used by many people, if not its possibility of a scam project.
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April 08, 2018, 08:41:05 AM
 #159

I mean, is there an exact list of rules that could guarantee that someone who follows them will surely not become a victim of another ICO scam. Of course there are obvious rules like event participation, reputation of team members among ather prifessionals, approve by well-known advisors. But potential scammers also know all these criteria and know what to fake exactly.

Is there a 'blockchain way' to create an algorithm, scheme or set of conditions allowing to recognise and ban scammers? Not government laws way which also good for the market in my opinion.

Would be appreciate a link to an old thread, perhaps I just didn't find it.

UPD Best Advices:
  • learn about previous ICO projects, select viable ones and participate similar ICOs
  • invest in an ICO with a working prototype only

Hi, not to believe any rating and so called ICO experts, if I am not mistaken Bennebit was rated with high ranks and suggested as investment option my most ICO 'experts' and it turned out to be scam, always do your own research.

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laryillary
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April 08, 2018, 09:36:48 AM
 #160

Look for a product that can be used in the real world, which has advantages over competitive products that do not use blokchain technology
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